Since this year, the stock price of Jiangsu Chengxing Phosph-Chemical Co.Ltd(600078) (600078), which has issued six risk tips, has remained strong after the festival. It has risen in nearly nine trading days, including the daily limit in eight days, which has been sealed as the strongest “demon stock” after the Spring Festival. However, such a company still has the risk of delisting.
Chengxing group enters the reorganization procedure
On major issues, after the festival, Jiangsu Chengxing Phosph-Chemical Co.Ltd(600078) announced that Chengxing group was applied for bankruptcy reorganization, saying that the headquarters economic Park applied to Jiangyin court for reorganization of Chengxing group because Chengxing group could not pay off its due debts, the amount of liabilities was huge, the assets were not enough to pay off all its debts, and it was obviously lack of solvency.
On February 8, Jiangyin regional headquarters economic Park Development and Investment Co., Ltd. (hereinafter referred to as “headquarters economic Park”) applied to the court for reorganization of Jiangsu Chengxing Phosph-Chemical Co.Ltd(600078) controlling shareholder Jiangyin Chengxing Industrial Group Co., Ltd. (hereinafter referred to as “Chengxing group”). Then, on February 9, the company received a notification letter from Chengxing group, saying that the above reorganization application had been accepted by the court, and Jiangsu mousheng law firm was appointed as the manager of Chengxing group, and Chengxing group entered the reorganization procedure.
It should be mentioned that the shares of the company held by Chengxing group were subject to judicial auction from 10:00 on February 14 to 10:00 on February 15, 2022. The subject shares were auctioned at the starting price of 646 million yuan after 20% discount, but the auction showed that there was no bid. The auction target is Jiangsu Chengxing Phosph-Chemical Co.Ltd(600078) 171 million shares held by Chengxing group, accounting for 25.78% of the total share capital of the company. Previously, in January, the above-mentioned subject shares boarded the French auction platform for the first time at the starting price of 807 million yuan, except for the first time.
net assets cannot be confirmed and will be delisted
Since this year, the company has issued six risk warning announcements. Among them, on February 17, Jiangsu Chengxing Phosph-Chemical Co.Ltd(600078) disclosed the risk prompt, saying that in addition to the risk of termination of listing due to bankruptcy due to reorganization failure, there are also risks such as delisting risk warning of the company’s shares, inability to regularize its net assets and termination of listing.
In November 2021, the creditor Jiangyin building decoration products factory applied to Wuxi intermediate people’s court for bankruptcy reorganization of Jiangsu Chengxing Phosph-Chemical Co.Ltd(600078) on the grounds that Jiangsu Chengxing Phosph-Chemical Co.Ltd(600078) could not pay off its due debts and its assets were insufficient to pay off all debts. At present, the company has not received the ruling of the court on the applicant’s application for company reorganization. There are still major uncertainties whether the applicant’s application can be accepted by the court and whether the company enters bankruptcy reorganization proceedings. If the court formally accepts the reorganization application of the company, the company will be at risk of being declared bankrupt due to the failure of reorganization.
In other words, if the company is declared bankrupt, Jiangsu Chengxing Phosph-Chemical Co.Ltd(600078) shares will be delisted, but these risks are not enough to shake the investors’ investment enthusiasm. After the Spring Festival, the company ushered in a continuous rise in the secondary market. The share price closed red in nine trading days, of which eight trading days were the daily limit. The share price rose from 5.99 yuan / share to the current 8.81 yuan / share, with an increase of 54.56% in nine days.
\u3000\u3000“ Jiangsu Chengxing Phosph-Chemical Co.Ltd(600078) Its main business is the production and sales of fine phosphorus chemical products and the import and export of self-produced chemical raw materials and chemical products. The company was the leading stock in the st market last year and walked out of the strong trend of continuous rise. As the company’s share price continues to rise, the risk also increases. It is suggested to gradually reduce the position, so as to keep most of the profits when its trend turns around. ” A private placement person in Guangdong told the reporter of Dazhong securities news.
